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Pastimes : John Dessauer's Investors World -- Ignore unavailable to you. Want to Upgrade?

To: DWB who wrote (1586)	9/25/1998 2:49:00 AM
From: Ralph C. Cinque	Read Replies (1) \| Respond to of 2346

Dan, I appreciate your sincere advice, and there is much truth in what you said, though I don't agree with all of it. And I realize that I have been very adversarial, and I appreciate your politeness and civility. I must say that I don't think my remark about "trying to lock-in gains and minimize losses" is a "mantra" because it is a very practical investment objective and is not based on anything philosophical or doctrinaire. And in regard to STD, may I suggest that we promise ourselves to never again shy away from taking a profit for fear of paying capital gains tax. That's false economy if there ever was. Capital gains tax is only 20% now on stocks held more than a year. And as far as the difficulty of picking a "re-entry point", it's no more difficult than picking an "entry point". Is it? It's just the same process started all over again. Whatever process you used the first time to determine value and timeliness, you could use again, without any bias of being already committed to that particular stock. We've been brainwashed by John Dessauer, remember, the guy who rode Comshare up to 30 and then watched it fall to 3. It just doesn't make any sense to allow a huge profit to get pissed away. STD has lost about half its value SO FAR, but we don't know that the downdraft is over. It could go lower, perhaps much lower. I should have had a stop loss under that baby, and in my opinion, so should have you.